What is Ripple and how to buy a Cryptocurrency? Table of Contents

What is Ripple and how to buy it?

Ripple emerged as a protocol (Rittlepay) for direct cash payments between members of the Internet community, and as a result, each of us had the opportunity not only to buy cryptocurrency profitably but to create a “personal” digital asset.

Ripple has its own global network, RippleNet, with a single ledger, within which separate, independent servers are verified and confirmed transactions. Any user can enter the network, payments are made using cryptographically signed transactions, denominated in fiat or internal XRP cryptocurrency. Conventional mining, as the formation of blocks in the blockchain, was replaced by a consensus technology for confirmation by project participants.

XRP cryptocurrency allows direct two-way transfers to bitcoin addresses without the need to buy cryptocurrency, no matter if it is an intercontinental bank or a small private buyer. The speed of “communication” has increased hundreds of times, but the system remains self-sufficient, closed and secure.

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Ripple Mining and Trading

All assets other than XRP are considered debt (“balances”) on the Ripple network. Each Ripple account requires a 20XRP stock – this is used to protect against spam. Any operation in a “non-native” currency incurs a transaction fee of at least 0.00001XRP, which makes the network too “expensive” for DoS attacks and other forms of hacking. These amounts are not appropriated by anyone – the debited XRP coins are simply destroyed. The commission grows with the speed of transaction processing and decreases during periods of relative inactivity.

As of 03/12/19, XRP holds third place in the ranking of cryptocurrencies in terms of capitalization: $ 12,875,932,914 USD (3,297,926 BTC). The maximum (theoretical) coin volume is 100,000,000,000 XRP. XRP cryptocurrency is not subject to the usual direct mining, that is, all coins have already been created (pre-mining) and are being introduced to the market gradually, in portions of 1 billion coins. At the moment, 41,432,141,930 XRP coins are in circulation, which is 41% of the total.

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Where can you buy XRP cryptocurrency?

Before buying a cryptocurrency, a beginner needs to understand that Ripple is positioned as an addition to Bitcoin, and not its competitor. XRP was not created as a cryptocurrency, it was important for developers to ensure the stable operation of the network, and speculation on the price for large investors is not profitable.

Assets with Ripple’s participation are included in the standard offer of any broker; the maximum amount of XRP transactions is performed in tandem with BTC and USD, and Ripple is also actively bought for Tether, Ethereum, Litecoin, Dash, Bitcoin Cash. The most balanced buy / sell rate for altcoins and major fiat currencies (exchange-traded assets USD, EUR, JPY) is offered by Bitbank, CoinBene, Bithumb (high liquidity, minimum commissions), Binance, Huobi, RippleFox, CoinEx, BitForex.

Depending on which cryptocurrency to buy for fiat (in non-cash form, of course), you can work with XRP:

On StormGain – you will be offered the most favorable exchange rate for rubles, euros, Visa / MasterCard cards, as well as through Payeer, AdvCash, Perfect Money, QIWI, Yandex Money, Capitalist, OkPay, Payza, Neteller accounts;

With StormGain, you are provided with a favorable dollar rate for Visa / MasterCard cards and payment systems Payeer, QIWI, Perfect Money, AdvCash.

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